Top 10 Richest Indian Cities in 2024: Mumbai Overtakes Beijing as Asia’s Billionaire Capital
Top 10 Richest Indian Cities in 2024: Mumbai Overtakes Beijing as Asia’s Billionaire Capital
Mumbai has achieved a significant milestone in 2024, becoming Asia’s new “billionaire capital,” surpassing Beijing. The city now ranks as the third richest in the world, according to the latest Hurun India Rich List 2024.
Mumbai Leads as India’s Richest City
In an impressive display of wealth accumulation, Mumbai has emerged as the richest city in India, boasting a total of 386 billionaires. This marks an increase of 58 new billionaires this year alone, contributing to a 47% surge in the city’s wealth. Mumbai’s rise has been so significant that it has overtaken Beijing, where billionaire wealth has declined by 28%.
India’s Rapid Growth in Billionaire Numbers
India’s billionaire population has seen rapid growth in 2024, with 94 new billionaires joining the ranks, bringing the total to 271. This increase is the second highest globally, following only the United States. Collectively, India’s billionaires now control approximately US$ 1 trillion, accounting for 7% of the world’s total wealth.
Here are the top 10 richest cities in India, as of 2024:
| Rank | Indian city | No. of billionaires in 2024 | Richest individual in the city |
| 1 | Mumbai | 386 | Mukesh Ambani & family |
| 2 | New Delhi | 217 | Shiv Nadar & family |
| 3 | Hyderabad | 104 | Murali Divi & family |
| 4 | Bengaluru | 100 | Azim Premji & family |
| 5 | Chennai | 82 | Venu Srinivasan |
| 6 | Kolkata | 69 | Benu Gopal Bangur & family |
| 7 | Ahmedabad | 67 | Gautam Adani & family |
| 8 | Pune | 53 | Cyrus S Poonawalla & family |
| 9 | Surat | 28 | Ashwin Desai & family |
| 10 | Gurugram | 23 | Nirmal Kumar Minda & family |
Source: Hurun Rich List 2024
Top 10 Richest Cities in India for 2024
Following Mumbai, New Delhi and Hyderabad have secured their positions as the next richest cities in India.
- Mumbai: 386 billionaires
- New Delhi: 217 billionaires (18 new in 2024)
- Hyderabad: 104 billionaires (17 new in 2024)
- Bengaluru: 100 billionaires
This marks a significant shift, with Hyderabad surpassing Bengaluru for the first time to claim the third spot. The addition of 17 new billionaires in Hyderabad reflects the city’s growing economic prominence.
Here are the top 10 richest states in India, as of 2024:
| Rank | Indian State | No. of billionaires in 2024 |
| 1 | Maharashtra | 470 |
| 2 | Delhi | 213 |
| 3 | Gujarat | 129 |
| 4 | Tamil Nadu | 119 |
| 5 | Telangana | 109 |
| 6 | Karnataka | 108 |
| 7 | West Bengal | 70 |
| 8 | Haryana | 40 |
| 9 | Uttar Pradesh | 36 |
| 10 | Rajasthan | 28 |
Source: Hurun Rich List 2024
State-Wise Distribution of Wealth
On a state level, Maharashtra leads with 470 billionaire entries, followed by Delhi with 213, and Gujarat in third place with 129 entries. These states continue to dominate the wealth landscape in India, further solidifying their status as economic powerhouses.
As India continues to produce billionaires at an unprecedented rate, its cities are rapidly climbing the global wealth rankings, with Mumbai leading the charge as the new billionaire capital of Asia.
